Key Takeaways
- • Cadenza Ventures announced it has raised a $50 million early-stage venture fund focused on digital finance and blockchain technology, anchored by VanEck Associates.
- • Co-founders and Managing Partners Kumar Dandapani and Max Shapiro lead the fund, which will invest globally in crypto platforms and blockchain technologies.
- • Limited partners and co-investors named in the announcement include Solana, Dapper Labs, WorldQuant Ventures, TRON, Babel Finance and Social Leverage, among others.
- • Initial portfolio investments include Rain, Vauld, Lemon Cash, Tulip Protocol and ZEBEDEE.
- • VanEck CEO Jan van Eck said the investment helps the firm track technology trends and develop crypto and blockchain investment products for clients.
Summary
Cadenza Ventures has raised a $50 million early-stage venture fund dedicated to digital finance and blockchain technology, according to a Business Wire announcement dated November 8, 2021. The fund is anchored by VanEck Associates, the asset manager, and includes participation from institutions such as Solana, Dapper Labs, WorldQuant Ventures, Mirana, TRON, Lennertz, Babel Finance and Social Leverage, as well as individuals affiliated with Coinbase, Kraken Ventures, AngelList and Norwest Venture Partners.
The fund is led by Co-Founders and Managing Partners Kumar Dandapani and Max Shapiro. The announcement states that the Cadenza team of technologists and investment professionals previously assembled a corporate venture portfolio that generated outsized returns, including Seed and Series A investments in FalconX, BlockFi, CoinDCX and FTX's Blockfolio. Dandapani previously served as Head of Data Science at Norwest Venture Partners and earlier worked as a quant and trader at Evolution Capital Management and Cornerstone Trading Company. Shapiro was previously at Blue Line Advisors, where he focused on middle-market leveraged buyout investing across North America.
The fund will invest globally in crypto platforms and blockchain technologies, with initial investments in Rain, Vauld, Lemon Cash, Tulip Protocol and ZEBEDEE. Dandapani said advancements in blockchain and decentralized finance are creating opportunities for products, platforms and services with large addressable markets.
Jan van Eck, CEO of VanEck, said the participation helps the firm better understand technology trends and stay ahead in the rapidly developing area of finance, enabling it to deliver crypto and blockchain-focused investment products to clients.
The fund is led by Co-Founders and Managing Partners Kumar Dandapani and Max Shapiro. The announcement states that the Cadenza team of technologists and investment professionals previously assembled a corporate venture portfolio that generated outsized returns, including Seed and Series A investments in FalconX, BlockFi, CoinDCX and FTX's Blockfolio. Dandapani previously served as Head of Data Science at Norwest Venture Partners and earlier worked as a quant and trader at Evolution Capital Management and Cornerstone Trading Company. Shapiro was previously at Blue Line Advisors, where he focused on middle-market leveraged buyout investing across North America.
The fund will invest globally in crypto platforms and blockchain technologies, with initial investments in Rain, Vauld, Lemon Cash, Tulip Protocol and ZEBEDEE. Dandapani said advancements in blockchain and decentralized finance are creating opportunities for products, platforms and services with large addressable markets.
Jan van Eck, CEO of VanEck, said the participation helps the firm better understand technology trends and stay ahead in the rapidly developing area of finance, enabling it to deliver crypto and blockchain-focused investment products to clients.
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